These BUSINESS BANKING TERMS AND CONDITIONS - entered on the date set forth in the Business Banking Enrollment Form, by and between UnionBank of the Philippines ("UnionBank" or "Bank") and the Client (as identified in the Business Banking Enrollment Form and hereinafter referred to as "Client") governs the Client's use and availment of UnionBank Business Banking ("Business Banking") facilities for cash management services and other additional services. The Client's availment of and continued use of Business Banking signifies that the authorized signatories of the Client have read, understood, and unconditionally agreed to be bound by these Terms and Conditions and all amendments, revisions, and additions which the Bank may effect from time to time.

The Client guarantees and warrants that all information indicated in the enrollment form is true, correct, consistent, and accurate. The Business Banking Enrollment Form will serve as the primary mode of instruction and will be used as the basis for setting up the Client's organization in Business Banking. This is subject to interpretation of the designated bank personnel. The Client is responsible for reviewing the setup made and validating that it is in accordance what was instructed. They are to inform UnionBank of any discrepancy in their setup immediately.

For enrollments done through https://portal.unionbankph.com/enrollment, the Bank will set-up the organization based on the entered information in the online form. The Client must ensure that the information in the signed and uploaded enrollment form matches the Client-entered information on the enrollment website. The Bank has the right to reject any discrepancies or inconsistencies between the online submission and uploaded documents.

If the Client does not agree with any of its information as reflected in Business Banking, or if any information reflected in the Enrollment Form has changed or is no longer accurate, the Client must communicate it to the Bank through UnionBank Business Support (business@unionbankph.com) supplemented by the necessary enrollment forms. This includes, but is not limited to, change, addition, or removal of Accounts, Users and their access rights, product availment, and changes to the Approval Policy. The Client shall immediately advise the Bank within 24 hours from the receipt of such information. Otherwise, the Bank shall have the right to assume that such information relayed to the Client is correct and in order.

The scope of the review of this Agreement is limited to verifying that the intent of the Contract Owner is properly reflected in it. The commercial, operational, technical, risk, and compliance-related aspects thereof are for the review and determination of the Contract Owner directly and with the coordination from other relevant units of the Bank, including clearance from the Bank's Tax Unit fee and tax-related provisions and concerns, the Compliance Group for BSP-related concerns such as BSP-required provisions, the IT Group to ensure compliance with necessary IT protocols and security measures and the Bank's Data Protection Officer for Data Privacy concerns. Note that the penalties for violations of the Data Privacy Act are fines and imprisonment.

1. DEFINITION OF TERMS
    
2. 1. CASH MANAGEMENT SERVICES - shall refer to the products offered by the Bank for the collection, disbursement, and management of accounts to help the Client efficiently manage its business.
       
3. 1. BUSINESS BANKING - is an electronic banking facility that allows the Client to avail of Cash Management Services and other banking services with the Bank on a per enrollment basis. The facility has two platforms: Online Website ("Website") and Mobile Application ("Mobile App"), which are collectively referred to as the "System." Business Banking has two Mobile Apps that are downloadable from the App Store and Play Store:
      1. The Portal by UnionBank
      2. MSME Business Banking
          
4. 1. TRUSTED DEVICE - is a device with the Mobile App installed that the User has signed into using two-factor authentication.

2. ENROLLMENT FORM

This section discusses the sections of the UnionBank Business Banking Enrollment Form and how they are to be interpreted by the Bank. This will be the basis of the Bank for setting up the Client's use of the system.

1. 1. ACCOUNTS - The Client shall be required to enroll its UnionBank account/s for products and services to be availed. The types of UnionBank Accounts that are eligible for enrollment in the System include Peso Savings and/or Peso Current Accounts, Foreign Currency Savings Accounts, Business Line Accounts, and other accounts as may be allowed by the Bank at its sole discretion and without prior notice.
      
      The Client may enroll more than one account number to the System by filling out the Multiple Account Enrollment Form.  All accounts indicated in that form will follow the same setup as indicated in the Business Banking Enrollment Form.
      
      Sister companies and/or subsidiary accounts must be enrolled as separate organization profiles in the System.

1. II. USER ENROLLMENT DETAILS - Authorized users designated by the Client in the Enrollment Form ("User") shall be given log-in access to the System. The Client must designate a unique electronic mail ("Email") address and mobile number for each user.  
2. 1. 1. ACCESSING THE SYSTEM - An activation email will be sent to the User's nominated email address upon enrollment to the System. This will require the nomination of a password that will be used to access the System.

The system makes use of Multi Factor Authentication (MFA) to authenticate users accessing the system. This is facilitated by requesting for the user's password and a validation of a user-owned device. By default, the user-owned device is validated by requesting for a One-Time Pin (OTP) sent to his device via SMS. The user has an option to download the system's mobile app on a trusted device as an alternative way of generating the OTP.

After initial login, users have the option to turn off OTP for either login or transaction creation in the system. The Client accepts the risk of reduced security in the System and agrees to be fully responsible for any unauthorized used as a result. Users will also have the ability to subsequently change the email and/or mobile number in the system. Any changes shall require MFA before proceeding.

The User must ensure that the log-in credentials and OTP shall not, under any circumstance be disclosed, given, or made available to any person other than the User. In the event that the information falls in the hands of unauthorized persons for any reason whatsoever, including but not limited to wiretapping of communication lines or erroneous connection by telecommunication switches, or errors in transmitted information due to faulty lines, any and all forms of technology relating to electronic surveillance or fraud, the Client unconditionally and irrevocably agrees and undertakes to keep the Bank free and harmless at all times from  any and all liability, costs, damages, losses and causes of action arising from or in any way connected with, due to such unauthorized disclosure, including, but not limited to, the effect of the provisions of Republic Act 1405 (Law of Secrecy of Bank Deposits), as amended, provisions of the General Banking Act and pertinent laws prohibiting disclosure of information concerning the Client's transactions or deposits with banks, any and all pertinent laws or regulations related thereto or the subject matter herein.

If the Client becomes aware that an ID or password has been disclosed to an unauthorized person, or a person ceases to be an authorized User, the Client must communicate it immediately through UnionBank Business Support (UBS) using business@unionbankph.com within 24 hours.